When bitcoin first reached 1000 dollars, it seemed so much that a lot of people started selling and it crashed to 180 dollars, a crash of more than 90%.
The stakes are even bigger as it sky rocketed to an all-time high of more than 7 times of 7500 dollars in an year alone. Optimism has almost vanished as everyone was speculating about a crash and a selloff happened at around 7k dollars.
1 Month trend
1 hr trend
The trend in last half an hour is looking very attractive but this could well be a trap as you look further in the past, if its a proof of anything.
24 hrs trend
4 day trend
Now the prices are below 5900 and it seems very unpredictable as bitcoin always is, my technical analysis predicts an even bigger fall after consolidating around 6k.
There is another strong support at around 4500 mark as it will be interesting to see if it picks up from there or goes even bellow 3000 mark, which has a very strong support and it should not go bellow that if laws of Physics apply here.